SpaceX Secures $920 Million Monthly Compute Deal With Google

Space Exploration Technologies Corp. signed a cloud services agreement with Google on June 5, 2026, to provide AI compute capacity. Under the terms, Google will pay SpaceX $920 million per month from October 2026 through June 2029 for access to approximately 110,000 Nvidia GPUs, CPUs, and memory components. Google described the deal as a short-term measure to address capacity constraints for its Gemini Enterprise platform.

This arrangement follows a similar May agreement with Anthropic, which pays SpaceX $1.25 billion per month to utilize the Colossus 1 data center in Memphis, Tennessee. Combined, these contracts generate approximately $2.17 billion in monthly revenue, or $26 billion annually, allowing SpaceX to monetize infrastructure originally developed for xAI following a February merger between the two companies.

SpaceX is leveraging these high-profile AI partnerships to strengthen its financial narrative ahead of a planned Nasdaq initial public offering on June 12. While the company targets a valuation between $1.75 trillion and $1.8 trillion, Morningstar, Inc. has challenged this figure, estimating the company's value at approximately $780 billion. To fund its own AI infrastructure needs, Alphabet Inc. recently announced an $80 billion equity capital raise, which included a $10 billion private placement from Berkshire Hathaway.